** BofA Global Research starts coverage on weight-loss drug developer Metsera MTSR.O with "buy" rating and $38 PT
** PT represents a 27.5% upside to stock's last close
** MTSR is poised to "break into the obesity market", which is projected to reach ~$170 bln by 2030, with a unique combination of both "oral and injectable platforms", setting it apart from its peers - brokerage
** Company's lead obesity assets, MET-097i and MET-233i, have "comparatively long half-lives" and offer a convenient dosing schedule, with no dose changes needed at first, and just monthly injections afterwards, BofA says
** MTSR's oral peptide, MET-224o, could have "bioavailability that is 5-6x higher" than the currently approved oral peptide, Novo Nordisk's NOVOb.CO Rybelsus - brokerage
** Estimates risk-adjusted revenue of $2.1 bln and $2.5 bln by 2040 for MTSR's lead assets MET-097 and MET-097+MET-233, respectively
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))
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